Checklist for Buying a Property in India
Nov 08, 2016 Real Estate News
Buying home is a dream project for many. It involves a lot of research and contemplation. This article will focus on the parameters that should be considered while doing the home hunting for your dream property.
Check the builder’s reputation in the market:
Before you buying a property you must check the overall profile of the builder. You must find out how many projects the builder has completed and whether there were any delays. You can collect such information from the company website and customer feedbacks that are available in different online forums. Also, check what opinion customers have of the builder and the project.
Commutability:
You must calculate the distance of the house that you are planning to buy from your work place and your children’s school. This is so because travelling long distance will not only increase your transport expenses but would also make you feel fatigued. Even check whether the roads are in good conditions, at least in 1km radius. Other basic requirements like hospitals and market places should be in close proximity as well. There should be good transport facilities as well.
Scope for home loans:
Before buying a property you must check whether the area is mapped, authorised and approved by the government. Because many banks do not approve home loans that do not have requisite permissions from the designated authorities.
Potential for Resale:
Although we usually buy a property to live in it for some time, but who knows, due to some unavoidable circumstances you might have to sell the house. Keeping such situations in mind, you should estimate the resale value of the property while you are buying it in the first place.
Potential for renting:
It is not unusual among house owners to give their property or a part of it on rent. If you have such motive it would be better for you to buy a house near commercial areas or college areas.
Spatial Qualities:
The house that you are planning to buy should have proper ventilation and natural lighting. Also, the house should not be in the clutches of air and noise pollution.
Modern facilities:
However we may try but we cannot liberate ourselves from the dependence of modern amenities. Although some of them like a fire alarm is a sheer necessity but we can neither do away with other facilities club house, parking area, lifts, power backup, swimming pool and gym.
Quality of Construction:
This is the most important aspect of a house. Be sure good quality bricks, paints and other raw materials are used. Also ensure that the walls of the house have an adequate thickness, good wiring and proper lightening safety measures are also implemented.
Locality:
You should find out the crime rate of the area in which you are planning to buy your house. You should also check whether the area is safe enough at night.
Lastly, you should always compare two or more properties against the above mentioned parameters before zeroing in on your dream property.
Check the builder’s reputation in the market:
Before you buying a property you must check the overall profile of the builder. You must find out how many projects the builder has completed and whether there were any delays. You can collect such information from the company website and customer feedbacks that are available in different online forums. Also, check what opinion customers have of the builder and the project.
Commutability:
You must calculate the distance of the house that you are planning to buy from your work place and your children’s school. This is so because travelling long distance will not only increase your transport expenses but would also make you feel fatigued. Even check whether the roads are in good conditions, at least in 1km radius. Other basic requirements like hospitals and market places should be in close proximity as well. There should be good transport facilities as well.
Scope for home loans:
Before buying a property you must check whether the area is mapped, authorised and approved by the government. Because many banks do not approve home loans that do not have requisite permissions from the designated authorities.
Potential for Resale:
Although we usually buy a property to live in it for some time, but who knows, due to some unavoidable circumstances you might have to sell the house. Keeping such situations in mind, you should estimate the resale value of the property while you are buying it in the first place.
Potential for renting:
It is not unusual among house owners to give their property or a part of it on rent. If you have such motive it would be better for you to buy a house near commercial areas or college areas.
Spatial Qualities:
The house that you are planning to buy should have proper ventilation and natural lighting. Also, the house should not be in the clutches of air and noise pollution.
Modern facilities:
However we may try but we cannot liberate ourselves from the dependence of modern amenities. Although some of them like a fire alarm is a sheer necessity but we can neither do away with other facilities club house, parking area, lifts, power backup, swimming pool and gym.
Quality of Construction:
This is the most important aspect of a house. Be sure good quality bricks, paints and other raw materials are used. Also ensure that the walls of the house have an adequate thickness, good wiring and proper lightening safety measures are also implemented.
Locality:
You should find out the crime rate of the area in which you are planning to buy your house. You should also check whether the area is safe enough at night.
Lastly, you should always compare two or more properties against the above mentioned parameters before zeroing in on your dream property.
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